EAST LANSING, Mich. — HJ Sims has arranged a $14 million refinancing for Burcham Hills, a continuing care retirement community in East Lansing. The funds will be used to reposition the campus.
Life Care Services operates the community, which offers 57 independent living units, 39 assisted living units, 68 memory care units and 133 skilled nursing beds.
Renovations will be to the campus common areas. In conjunction with the project, the community will introduce an entrance-fee option for residents.
The transaction refinances 2007 bonds. Two separate economic development corporation issuers provided the new, fixed-rate, tax-exempt bonds.